Winnebago Industries, Inc. · NYSE:WGO
Winnebago Industries — Q3 FY2026 Earnings Presentation
35 slides from Winnebago Industries's earnings presentation, Jun 25, 2026
Slide 1: Winnebago Industries Q3 FY 2026 Investor Presentation
Winnebago Industries Q3 FY 2026 Investor Presentation June 25, 2026
Slide 2: Elevating Every Moment Outdoors as the Trusted Leader in Outdoor Recreation
Elevating Every Moment Outdoors as the Trusted Leader in Outdoor Recreation Locations Diverse Products $2.8B Current Net Revenues1 Class A – Gas & Diesel Class B – Gas & Diesel Class C – Gas & Diesel ~5,200 Highly Skilled Employees Travel Trailer 5th Wheel Specialty Vehicles Significant Transformati
Slide 3: Belief, Purpose, Vision, Principles and Values
BELIEF We believe time together outdoors is priceless PURPOSE Elevating every moment outdoors VISION To be the trusted leader in premium outdoor recreation PRINCIPLES Relentless Unparalleled Purposeful Exceptional Excellence Collaboration Innovation Experience Our unyielding pursuit of Our empowered
Slide 4: How We Operate
How We Operate © 2026 Winnebago Industries 4
Slide 5: Diversified Portfolio Evolving for Growth
Diversified Portfolio Evolving for Growth NET REVENUES CONTRIBUTION BY SEGMENT 0.5% 9.2% 14.3% 40.1% 90.4% 45.7% F16 TTM Q3 F26 $1.0B $2.8B Motorhome RV Towable RV Marine/All Other Note: Percentages may not add due to rounding © 2026 Winnebago Industries 5
Slide 6: Q3 F’26 Financial Results
Q3 F’26 Financial Results
Slide 7: Actions Strengthening the Business
Actions Strengthening the Business MANAGING THE CONTROLLABLES New Products Prioritizing investments that strengthen our brands and products Innovation and Accessibility Advancing innovation while expanding participation at accessible price points Cost & Cash Discipline Driving SG&A efficiency, worki
Slide 8: Q3: Disciplined Execution in a Dynamic Demand Environment
Q3: Disciplined Execution in a Dynamic Demand Environment Demand Portfolio Motorized Towable Disciplined Backdrop Balance Momentum Dynamics Execution • Industry demand • Portfolio diversity • Meaningful • Competitive • Disciplined environment across RV and improvement in market conditions execution
Slide 9: Key RV Trends – North America
Key RV Trends – North America CY 2026 Wholesale RV Shipment Updated Expectations 290,000 to 310,000 units RV Retail Units – Change vs. LY Industry Wholesale Shipments Winnebago Industries (through April 2026) Dealer Turns 20.0% 29,209 Inventory (units) 15.00 Turns (TTM Retail Sales/Ending Inv) 10.0%
Slide 10: Our RV Dollar Share Exceeds Unit Share in Most Categories
Our RV Dollar Share Exceeds Unit Share in Most Categories Retail dollar share better reflects the value of our premium brands, differentiated products and growing motorized presence TTM 4/30/2026 Class A - Class A - Motorhome Class B Class C Towable Fifth Wheel Travel Trailer Total Diesel Gas Unit S
Slide 11: RV New Product Highlights
RV New Product Highlights Winnebago Grand Design Newmar ARKA Transcend Lite Freedom Aire Winnebago Grand Design Thrive Momentum © 2026 Winnebago Industries 11
Slide 12: Barletta Continues Share Acceleration in U.S. Aluminum Pontoon Segment
Barletta Continues Share Acceleration in U.S. Aluminum Pontoon Segment F26 9.3% F25 8.9% F24 8.8% Sanza F23 7.1% F21 4.7% Aria Leggera F19 Corsa 1.7% Cabrio F18 0.3% Lusso F17 0.0% Source: Statistical Surveys Inc.; F26 is April FY26 TTM ; represents unit retail volume market share of the U.S. alumin
Slide 13: F26 Q3 Consolidated Results
F26 Q3 Consolidated Results F26 Q3 F25 Q3 • Net revenues decreased 9.9%, primarily due to: $698.7 — lower unit volume, partially offset by selective Net price adjustments and product mix Revenues $775.1 ($-millions) • Gross profit margin was consistent with prior year: 13.6% — higher input costs and
Slide 14: Towable RV Segment Results
Towable RV Segment Results Net Revenues ($- millions) Operating Income and Margin F26 F25 Q3 Q3 $29.7 $371.7 $274.7 $16.0 8.0% 5.8% $ - millions OI Margin Net revenues decreased 26.1% vs. F25 Q3 Operating income decreased 46.3% vs. F25 Q3, primarily due to: primarily due to: • Lower unit volume • Hi
Slide 15: Towable RV Segment New Products
Towable RV Segment New Products Solitude 414LJMJ Foundation 42GD Access PREMIUM FIFTH WHEEL DESTINATION TRAILER ENTRY ENTRY-LEVEL TRAVEL TRAILER Strengthens Grand Design’s presence Represents Grand Design’s first entry Delivers spacious comfort, durable in the luxury fifth-wheel segment with into th
Slide 16: Motorhome RV Segment Results
Motorhome RV Segment Results Net Revenues ($- millions) Operating Income and Margin F26 F25 Q3 Q3 $320.7 $291.2 $9.6 3.0% ($3.2) -1.1% $ - millions OI Margin Net revenues increased 10.1% vs. F25 Q3 Operating income and operating income margin primarily driven by: increased vs. F25 Q3, primarily refl
Slide 17: Motorhome RV Segment New Products
Motorhome RV Segment New Products 2027 Dutch Star ARKA Floor Plan 4345 Lineage – Series VP BUILT FOR BACKCOUNTRY #1 SELLING CLASS A DIESEL RV CLASS B CAMPER VAN ADVENTURISTS IN THE U.S Highly durable, versatile adventure All-New Floor Plan 4345 offers a rear Broadens Grand Design’s Class B truck eng
Slide 18: Marine Segment Results
Marine Segment Results Net Revenues ($- millions) Operating Income and Margin F26 F25 Q3 Q3 $100.7 $92.4 $9.4 9.3% $5.3 5.8% $ - millions OI Margin Net revenues decreased 8.3% vs. F25 Q3, Operating income and operating income margin primarily due to: decreased vs. F25 Q3, primarily driven by: • Lowe
Slide 19: Marine Segment New Products
Marine Segment New Products Sanza Seakeeper Launch 27 Ride PREMIUM RUNABOUT ELEVATED VALUE PONTOON ENHANCED COMFORT & CONTROL Represents a new entry point within Expands Barletta’s lineup with an Advances ride quality through pontoon- the Chris-Craft portfolio, thoughtfully offering designed to reac
Slide 20: Balance Sheet and Cash Flow
Balance Sheet and Cash Flow Focused on preserving financial flexibility, managing working capital and strengthening the balance sheet NET LEVERAGE TREND FREE CASH FLOW – YTD/TTM Leverage Ratio1 COVID F26 Q3 FY26 Q3 EBITDA Impact ($ - millions) YTD TTM Grand Design Newmar 4.8 Net cash provided by (us
Slide 21: Fiscal 2026 Guidance
Fiscal 2026 Guidance Winnebago Industries updates its fiscal 2026 full year guidance for Net Revenues and Adjusted earnings per share as follows: FY25 Actual FY26 Estimate Midpoint vs. FY25 Net Revenues $2.8B $2.65B - $2.75B $2.7B (-4%) Reported earnings per share (GAAP) $0.91 $1.05 - $1.40 $1.23 (+
Slide 22: What Differentiates Winnebago Industries
What Differentiates Winnebago Industries Uniquely positioned to drive long-term profitable growth as a trusted leader in premium outdoor recreation: o Portfolio of premium outdoor → Supports strong profitability and margin recreation brands expansion over the long-term o Enterprise-wide centers of P
Slide 23: Participation levels and future intent point to continued strength in outdoor demand
Participation levels and future intent point to continued strength in outdoor demand Camping participation New campers continue Strong consumer intent Families see the holding steady to grow outdoor to increase camping benefits of camping recreation 52M 8.5M 79% 60% active camping households in hous
Slide 24: Consistent engagement and strong satisfaction reinforce category resilience
Consistent engagement and strong satisfaction reinforce category resilience RV usage remains RVing viewed as Satisfaction with Boat owners not strong affordable travel boating is high trading down option 37% 58% 86% 74% Are more likely to travel in an of all leisure travelers feel of power-boat owne
Slide 25: Advancing a Connected Technology Ecosystem
Advancing a Connected Technology Ecosystem WINNEBAGO CONNECTTM Digital Marketing Advances STRATEGIC TECHNOLOGY PRODUCT CONNECTIVITY DATA-DRIVEN MARKETING VERTICAL A fully integrated energy system with A first-of-its-kind intelligent RV Strong brand architecture and digital optimized components, enab
Slide 26: Corporate Responsibility Report
Corporate Responsibility Report PEOPLE PLANET COMMUNITY Embrace inclusion and belonging Protect and preserve the outdoors Contribute to the places we call home RV Women’s Alliance Spring Campout: 25 Strengthened ESG governance to enhance Activated employees across the enterprise WGO team members att
Slide 27: Environmental Sustainability Goals
Environmental Sustainability Goals WASTE GHG EMISSIONS PRODUCT WATER REDUCTION REDUCTION STEWARDSHIP REDUCTION Reduce the amount of waste Align our business to do our part Provide eco-friendly upgrade Reclaim and reuse water in all we send to landfills to limit the global average options on all new
Slide 28: Driving Social Impact Through Community Partnerships
Driving Social Impact Through Community Partnerships Winnebago Industries and the Winnebago Industries Foundation partner with nonprofit organizations to advance preservation and exploration of natural environments, drive access to nature and the outdoor industry, and support our neighborhoods to gr
Slide 29: Appendix
Appendix © 2026 Winnebago Industries 29
Slide 30: Winnebago Industries Adjusted EBITDA Reconciliation
Winnebago Industries Adjusted EBITDA Reconciliation ($ - millions) F26 Q3 F25 Q3 Net income $14.5 $17.6 Interest expense, net 5.0 6.7 Income tax provision 3.5 6.3 Depreciation & amortization 14.8 15.1 EBITDA $37.8 $45.7 Asset impairment -- 1.2 Non-operating income -- (0.4) Adjusted EBITDA $37.8 $46.
Slide 31: Winnebago Industries Pro Forma Adjusted EBITDA Reconciliation
Winnebago Industries Pro Forma Adjusted EBITDA Reconciliation ($ - millions) TTM F26 Q3 TTM F25 Q4 TTM F22 Q1 TTM F20 Q3 TTM F20 Q1 TTM F18 Q4 TTM F17 Q2 Net income $38.5 $25.7 $324.1 $50.9 $103.7 $102.4 $54.6 Interest expense, net 22.9 25.9 40.7 27.8 19.5 18.2 6.3 Provision for income taxes 6.6 4.4
Slide 32: Winnebago Industries Adjusted EPS Reconciliation
Winnebago Industries Adjusted EPS Reconciliation F26 Q3 F25 Q3 Diluted earnings per share (GAAP) $0.51 $0.62 Amortization1 0.19 0.19 Asset impairment1 -- 0.04 Tax impact of adjustments2 (0.04) (0.05) Adjusted diluted earnings per share (non-GAAP)3 $0.66 $0.81 1 Represents a pre-tax adjustment 2 The
Slide 33: Winnebago Industries Free Cash Flow Reconciliation
Winnebago Industries Free Cash Flow Reconciliation ($ - millions) F26 Q3 YTD F25 Q3 YTD FY26 Q3 TTM FY25 Q3 TTM Net cash provided by (used in) operating activities $26.2 $(52.5) $207.6 $(11.8) Purchases of property, plant, and equipment (16.8) (29.2) (27.0) (40.4) Free Cash Flow $9.4 $(81.7) $180.6
Slide 34: © 2026 Winnebago Industries
© 2026 Winnebago Industries 34
Slide 35: Contact
Contact Joan Ondala ©Email: ir@winnebagoind.com 2026 Winnebago Industries 35
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